Icagen 8-K Entry into a Material Definitive Agreement

Exhibit 99.1

[OXFORD LETTERHEAD]

August 27, 2007

Mr. Bob Jakobs

Director of Finance

Icagen, Inc.

42222 Emperor Blvd.

Durham, NC 27703

Dear Bob:

This is to notify you that Oxford Finance Corporation has approved Icagen’s request for a credit line expansion through December 31, 2007 under the same terms and conditions of the original proposal executed on December 20, 2001. The expansion will be changed to reflect recent treasury-bill constant maturity rates as of August 27, 2007. This is to accommodate your anticipated funding of $1,000,000 of equipment purchases through December 31, 2007. If you need to increase this amount, or if you have any questions or concerns about this expansion, please do not hesitate to contact me directly.

Sincerely,

/s/ Chad D. Norman

Chad D. Norman

Business Development Officer